In this episode we dive into LimeWire’s AI resurrection, SoundCloud’s profitability status, and Creamfields’ record-breaking 2024 mainstage.
LimeWire resurfaces with new AI music creation technology
Formally known for its peer-to-peer file sharing client, predominantly used for the download and distribution of pirated music, LimeWire has launched a new AI studio that is capable of generating tracks, videos, and artwork at the push of a button.
After generating content using their AI studio, artists can automatically mint their work on various blockchain marketplaces.
LimeWire also offer a revenue share scheme for artists that upload their work to be used by other creators.
SoundCloud achieves annual profitability for the first time in its 16-year history
The German music streaming company finally reached a profitable status in 2023, the first time since SoundCloud was initially formed in 2007.
It credits the growth to an increased number of user subscriptions and additional ad revenue. Their artist tools have also seen a rise in fees generated for the platform.
Though this has come at the cost of laying off 8% of their staff, following the footsteps of other large organisations such as Spotify, as they focus on reducing operational costs.
Creamfields announce a record-breaking indoor mainstage for their 2024 festival
The organisers of the UK’s biggest electronic music festival have announced the construction of a 30,000 capacity superstructure for their 2024 event.
The structure, named APEX, will provide shelter from the elements whilst also offering an “epic immersive experience”, according to Creamfields.
A trailer can be viewed on the organiser’s website, showcasing a 3D representation of APEX ahead of this year’s festival. – https://creamfields.com/apex/